Explanation/Reference:
Explanation:
Following are the phases that are involved in Information system monitoring and maintenance:
Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task:

- Analyze and prioritize risks to organizational objectives.
- Identify the necessary application components and flow of information through the system.
- Examine and understand the functionality of the application by reviewing the application system documentation and interviewing appropriate personnel.
Identify controls: After prioritizing risk now the controls are identified, and this involves following tasks:

- Key controls are identified across the internal control system that addresses the prioritized risk.
- Applications control strength is identified.
- Impact of the control weaknesses is being evaluated.
- Testing strategy is developed by analyzing the accumulated information.
Identify information: Now the IS control information should be identified:

- Identify information that will persuasively indicate the operating effectiveness of the internal control system.
- Observe and test user performing procedures.
Implement monitoring: Develop and implement cost-effective procedures to evaluate the persuasive

information.
Report results: After implementing monitoring process the results are being reported to relevant

stakeholders.
Incorrect Answers:
A, C, D: These all phases occur in IS monitoring and maintenance process after prioritizing risks.